Developer to deliver Alade Mall in two years

The concessionaire of Alade Mall, Ikeja, Master Reality International Concepts Limited, has said it will deliver a world class shopping centre and an architectural master piece in the next two years.

The firm’s managing director, Mr. Lai Omotola, made this promise following the take-off of work after the relocation of the marketers to the new Alade market. The Alade mall, designed to sit on 1. 56 hectares of land on the highbrow Allen Avenue, Ikeja, Lagos will on completion have the biggest lettable space of 214 office / shop spaces, not only in Nigeria, but west Africa. Upon completion, the Alade Mall, he revealed, will be the first 24 hours live, work, shop, eat and entertain mall in the country.

Highlighting the layout plan, Omotola said the mall will consist of two basement parking lot with capacity for at least 700 cars, ground floor, plus three floors.

“It will have in total 214 shop spaces, a hotel, cinema, anchor tenants, two lounges, walk-in clinic, restaurant, game shops, bowling spaces, officers two floor of giant aquarium, common area for entertainment, and a 21 – room metro hotel” he said .

Omotola, who put the cost of the project at N13 billion, blamed the increase in cost of construction on instability of foreign exchange and need to upgrade the architectural design in order to meet modern trends.

“Despite these however, we are committed to delivering a unique architectural masterpiece in the heart of Ikeja. We are determined to build a signature edifice which everybody would want to visit even as a tourist,” he added. He disclosed that the mall is already 60 per cent subscribed with two global brands already signed on as anchor tenants, while 114 other local and international brands have also secured shop / office spaces in the mall.

He said the mall has been deliberately shifted backwards in order to create three alternative roads that would serve as a lay by to decongest the road and ensure that the activities in the mall does not negatively impact on the traffic.

Omotola thanked the marketers for finally agreeing to move to the new site to allow for the construction work. He said the company has been able to provide 80 per cent of what it promised, and more than 85 per cent of the market spaces are now occupied. He said work is already ongoing on the construction of the link bridge between the road and the market as well as the rehabilitation of the canal.

He assured that his company will continue to provide maintenance services to the market in order to ensure that it does not collapse but grow into a model market.